Drivezy | Pixr8 News

22Dec By Gauri SinghNo Comments

FUNDING

Top 5 Funding of the Week (17th Dec – 22nd Dec)

Funding is a very important part of a business and when an entrepreneur starts a business, the major source of expenditure for him is the funding he receives. This week, we saw the food delivery giant raising a huge amount of funds. So, let's dig into the details and have a look on the top five funding activities of the week. Swiggy India’s largest food delivery company Swiggy has reportedly raised an amount of $1 billion in a fresh funding round. The round was led by existing backer, South African media giant Naspers. Along with this, the new investors that participated in the round included China’s Tencent and hedge funds Hillhouse Capital and Wellington Management. With this new round...

Drivezy to Raise $60 Million in Series C Funding Round

Sharing economy-focused startup Drivezy is close to finalising a $60 million funding round (about Rs 432 crore), as it looks to double down on its vehicle sharing platform, particularly its two-wheeler segment. The Bengaluru-based on-demand startup, which announced i.ts $20 million Series B round last month, expects to close the latest round by end-January, and which is likely to value the three-year-old company about $400 million, a four-fold jump from its November valuation. Drivezy currently counts Das Capital, the investment firm founded by Japanese serial entrepreneur and investor Shinji Kimura, Bain Capital, the multi-asset alternative investment firm co-founded by former US presidential candidate Mitt Romney, European investment firm Accent Equity...

Mobility Sharing Firm Drivezy Secures $20 million

India’s mobility sharing platform Drivezy has secured funds amounting to $20 million Series B financing round. The particular round was led by existing investor Das Capital. The round also saw participation from backers like automotive giant Yamaha, Axan Partners and IT-Farm. With this funding, the total amount of funds the company has raised so far reaches $31 million. Along with this, the startup has also inked a $100 million asset financing deal backed by Japan’s AnyPay, which will see new cars and motorbikes added to Drivezy’s fleet over the next year. Initially, the company was known as JustRide. It claims to have a fleet of around 8,000 vehicles that includes 5,000 two-wheelers (motorbikes and scooters) and 3,000 cars, which probably attracts around 37,000 customers every mo...